Good … The pro forma operating EBITDA decline was primarily the result of softer volumes in Semiconductor Technologies resulting in an unfavorable mix partially offset by higher gains associated with planned asset sales versus the prior year. On December 15, 2019, DuPont and IFF announced they had entered definitive agreements to combine DuPont’s Nutrition & Biosciences business with IFF in a transaction that would result in IFF issuing shares to DuPont shareholders, pending customary closing conditions, other approvals including regulatory and that of IFF’s shareholders. Pro forma adjusted EPS(1) decreased 7 percent to $3.80, compared with pro forma adjusted EPS in the year-ago period of $4.07 primarily driven by a higher tax rate, currency headwinds and lower segment results. Organic Sales is defined as net sales excluding the impacts of currency and portfolio. And welcome to the DuPont Third Quarter 2019 Earnings Call. A detailed discussion of some of the significant risks and uncertainties which may cause results and events to differ materially from such forward-looking statements is included in the section titled "Risk Factors" (Part II, Item 1A) of DuPont's Quarterly Report on Form 10-Q for the period ended September 30, 2019 and its subsequent reports on Form 10-Q, 10-K and Form 8-K. Following the Corteva Distribution, DuPont holds the specialty products business. Earnings Release (opens … The unaudited pro forma financial information (the "pro forma financial statements") is derived from DuPont's Consolidated Financial Statements and accompanying notes, adjusted to give effect to certain events directly attributable to the Distributions and Financings (as defined below). DuPont (NYSE: DD) is a global innovation leader with technology-based materials, ingredients and solutions that help transform industries and everyday life. For the year, Safety & Construction net sales of $5.2 billion and pro forma operating EBITDA of $1.4 billion were down 2 percent and up 11 percent, respectively, from the year-ago period. The unaudited pro forma Statements of Operations for the years ended December 31, 2019 and 2018 and for three months ended December 31, 2018 give effect to the pro forma events as if they had been consummated on January 1, 2018. pro forma income (loss) from continuing operations before income taxes) before interest, depreciation, amortization, non-operating pension / OPEB benefits / charges, and foreign exchange gains / losses, excluding the impact of costs historically allocated to the materials science and agriculture businesses that did not meet the criteria to be recorded as discontinued operations and adjusted to exclude significant items. Also includes a tax valuation allowance recorded against the net deferred tax asset position of a Brazilian legal entity ($67 million tax expense), and a net tax $2 million benefit associated with the Distributions. More information can be found at, Military, Law Enforcement & Emergency Response, Full year 2019 pro forma GAAP EPS from continuing operations of $(0.74); pro forma adjusted EPS of $3.80, Full year 2019 pro forma operating EBITDA margins up 10 bps more than offsetting 50 bps headwind from lower equity affiliate income, 4Q19 Net Sales of $5.2 billion, down 5 percent; organic sales down 2 percent, 4Q19 GAAP EPS from continuing operations of $0.24; Adjusted EPS of $0.95, More than $1.3 billion returned to shareholders since June 1 including $750 million of share repurchases, Advanced active portfolio management strategy announcing planned merger of the Nutrition & Biosciences business with IFF to create a global leader in high-value ingredients and solutions in Food & Beverage, Home & Personal Care and Health & Wellness markets, 2020 adjusted earnings per share guidance of $3.70 to $3.90 reflecting headwinds from prior year discrete benefits and nylon market pressures. Double-digit volume gains in Water Solutions, led by strong demand for ion exchange and reverse osmosis membranes in industrial markets, was more than offset by volume declines in Safety Solutions and continued softness in Shelter Solutions. In addition, immediately following the Corteva Distribution, on June 1, 2019, DuPont completed a 1-for-3 reverse stock split (the "Reverse Stock Split") and as a result, DuPont common stockholders now hold one share of common stock of DuPont for every three shares held prior to the Reverse Stock Split. Related to the effects of U.S. Tax Reform. Transportation & Industrial reported fourth quarter net sales of $1.2 billion, down 9 percent from the year-ago period. 1. to a range of $3.75 to $3.85. Non-CoreNon-Core reported fourth quarter net sales of $404 million, down 19 percent from the year-ago period. Last month, DuPont reaffirmed its 2019 revenue guidance at $21.5 billion and adjusted earnings per share outlook at $3.77-$3.82. The December 2018 divestiture of the European STYROFOAM™ business reduced sales by 3 percent. Refer to pages 17 and 18 for additional detail on the pro forma adjustments included in the pro forma Consolidated Statements of Operations. Growth in photovoltaic and advanced materials was more than offset by volume declines due to weak demand for trichlorosilane and for SORONA® in carpet and apparel applications. +1 800-231-5469 (Hearing Impaired), DuPont Investor Relations: Pro forma GAAP Income (Loss) from continuing operations totaled $(522) million, versus $237 million in the year-ago period. DuPont de Nemours Inc Q4 2019 Earnings Call Jan 30, 2020, 8:00 a.m. Volume gains in Health & Biosciences were led by strength in food enzymes and animal nutrition partially offset by continued market-driven softness in biorefineries and probiotics in North America. DuPont Leadership; DuPont Board; Contact the Board of Directors; Contact Investor Relations; Email Alerts; FAQ; DowDuPont Investors - Prior to June 1, 2019. ET on May 2, 2019, to discuss the Materials Science Division’s financial results within DowDuPont. Pro forma operating EBITDA margins were up over 300 basis points driven by pricing gains across the portfolio, productivity actions and cost savings partially offset by currency and higher planned maintenance costs. Safety Solutions demand remained steady across most product lines however planned maintenance downtime and raw material disruptions in the supply chain limited production volumes. Add to Apple Calendar (opens in new window) Add to Google Calendar (opens in new window) Add to Microsoft Outlook (opens in new window) Add to iCalendar (opens in new window) Webcast. Organic sales were flat with a 1 percent pricing improvement offset by a 1 percent decline in volume. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on DuPont's consolidated financial condition, results of operations, credit rating or liquidity. On an organic basis, net sales were down 2 percent with 1 percent higher price being more than offset by 3 percent lower volume. Please go ahead. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," "will," "would," "target," and similar expressions and variations or negatives of these words. Restructuring and asset related charges - net; Merger-related inventory step-up amortization, Net loss on divestitures and changes in joint venture ownership 8, Provision for income taxes on continuing operations, Less: Costs historically allocated to the materials science and agriculture businesses 10, Cost of sales; Research and development expense; Selling, general and administrative expenses. ET. DuPont assumes no obligation to publicly provide revisions or updates to any forward-looking statements whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. DuPont assumes no obligation to publicly provide revisions or updates to any forward-looking statements whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. DuPont (NYSE: DD) today announced financial results for the fourth quarter and full year 2019. View as PDF and view charts here.. WILMINGTON, Del., Oct. 31, 2019 - DuPont (NYSE: DD) today announced financial results for the third quarter of 2019 and is reiterating its full-year guidance for organic revenue of slightly down versus prior year and narrows the range of pro forma adjusted EPS (1) to $3.77 to $3.82 versus the prior range of $3.75 to $3.85, maintaining the midpoint of the guide. Zacks Rank Organic sales were down 9 percent driven by 15 percent volume declines offset by 6 percent pricing gains. Organic sales were up 3 percent driven by 2 percent growth in volume and a 1 percent gain in price. These events include, among others, the impact of portfolio changes, including asset sales, mergers, acquisitions, and divestitures; contingent liabilities related to litigation, environmental and indemnifications matters; impairments and discrete tax items. The income tax effect on significant items was calculated based upon   the enacted tax laws and statutory income tax rates applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment. These risks are and will be more fully discussed in DuPont's current, quarterly and annual reports and other filings made with the U.S. Securities and Exchange Commission, in each case, as may be amended from time to time in future filings with the SEC. These headwinds were partially offset by higher pricing in segments outside of T&I and cost savings. "The planned merger of our N&B business with IFF advances the strategic direction of the company and will generate value for our shareholders," said Ed Breen, Executive Chairman of DuPont. Find the latest Earnings Report Date for DuPont de Nemours, Inc. Common Stock (DD) at Nasdaq.com. More information can be found at www.dupont.com. DuPont de Nemours, Inc. 2019 Q4 - Results - Earnings Call Presentation Jan. 30, 2020 • 2 Comments DuPont de Nemours, Inc. (DD) CEO Marc Doyle on Q3 2019 Results - Earnings Call Transcript For the year, Transportation & Industrial net sales of $5.0 billion and pro forma operating EBITDA of $1.3 billion were down 9 percent and 14 percent, respectively, from the year-ago period. Statements of Operations, (Loss) Income from continuing operations before    income taxes, Provision for income taxes on continuing    operations, (Loss) Income from continuing operations, net of    tax, Net income attributable to noncontrolling    interests from continuing operations, Net (loss) income from continuing operations    attributable to DuPont, (Loss) Earnings per common share from    continuing operations - basic, (Loss) Earnings per common share from    continuing operations - diluted, Weighted-average common shares outstanding -    basic, Weighted-average common shares outstanding -    diluted, View original content to download multimedia:http://www.prnewswire.com/news-releases/dupont-reports-fourth-quarter-and-full-year-2019-results-300995883.html, Computershare (transfer agent) "Our focus on a disciplined operating model will ensure we remain diligent on cost and cash management as we progress through the year.". GAAP Income from continuing operations totaled $191 million, versus pro forma GAAP Income from continuing operations of $310 million in the year-ago period. There were no pro forma adjustments for the three months ended December 31, 2019. The historical financial information presented herein has been retroactively adjusted to reflect this change. Includes a pretax charges of $74 million ($64 million net of tax benefit) related to tax indemnifications, primarily associated with an adjustment to a one-time transition tax liability required by the Tax Cuts and Jobs Act of 2017. Significant items are items that arise outside the ordinary course of the Company's business that management believes may cause misinterpretation of underlying business performance, both historical and future, based on a combination of some or all of the item's size, unusual nature and infrequent occurrence. Operating EBITDA(1) was $1.4 billion, down 14 percent versus pro forma operating EBITDA in the prior year driven by lower nylon pricing and reduced equity affiliate income from customer settlements in the Hemlock Semiconductor joint venture. Significant Items Impacting Results for the Three Months Ended December 31, 2019, Restructuring and asset related charges - net 5, Restructuring and asset related charges - net; Equity in earnings of nonconsolidated affiliates, Equity in earnings of nonconsolidated affiliates; Cost of sales, Less: Merger-related amortization of intangibles, Sundry income (expense) - net; Provision for income taxes on continuing operations, Significant Items Impacting Pro Forma Results for the Three Months Ended December 31, 2018. These costs are no longer incurred by the Company following the Distributions. Management estimates amortization expense in 2020 associated with intangibles acquired as part of the Merger to be approximately $1.9 billion on a pre-tax basis, or approximately $2.00 per share. Net sales for the quarter totaled $5.2 billion, down 5 percent versus the same quarter last year. Volume gains in Health & Biosciences were led by strength in food enzymes and animal nutrition partially offset by continued market-driven softness in biorefineries and probiotics in North America. Analysts are encouraged to join the Company’s earnings conference call at 8 a.m. In addition, we continue to bolster our portfolio through the recently announced strategic acquisitions in the high growth water space.”. “Our focus on a disciplined operating model will ensure we remain diligent on cost and cash management as we progress through the year.”. Net income from continuing operations available for DuPont common stockholders. DuPont (DD) Q3 2020 Earnings Call Transcript DD earnings call for the period ending September 30, 2020. Fourth quarter operating EBITDA for the segment totaled $311 million, flat with prior year with pricing gains and productivity actions being offset by higher year-over-year manufacturing costs, primarily from costs associated with planned maintenance, and lower volumes. ", "As we head into 2020, this strong internal discipline continues to be paramount as we foresee further nylon pricing declines and unfavorable nylon mix partially offsetting organic revenue growth in our other core segments," Doyle stated. Any future acquisitions may result in amortization of additional intangible assets. And at this time, I would like to turn the conference over to, Lori Koch. “Together we are creating a global leader in high-value ingredients and solutions for Food & Beverage, Home & Personal Care and Health & Wellness markets while creating tremendous opportunities for our employees and customers. Includes Board approved restructuring plans and asset related charges, which include other asset impairments. Management classifies as significant items certain costs and expenses associated with integration and separation activities related to transformational acquisitions and divestitures as they are considered unrelated to ongoing business performance. ET. Today's conference is being recorded. Nutrition & BiosciencesNutrition & Biosciences reported fourth quarter net sales of $1.5 billion, down 2 percent from the year-ago period. For the year, Non-Core net sales of $1.7 billion and pro forma operating EBITDA of $491 million were down 15 percent and 27 percent, respectively, from the year-ago period. Pro forma adjusted earnings per common share from continuing operations - diluted ("Pro forma adjusted EPS"), is defined as pro forma earnings per common share from continuing operations - diluted, excluding the after-tax impact of significant items, after-tax impact of amortization expense associated with intangibles acquired as part of the Merger, after-tax impact of non-operating pension / other post employment benefits ("OPEB") benefits / charges and the after-tax impact of costs historically allocated to the materials science and agriculture businesses that did not meet the criteria to be recorded as discontinued operations. Nutrition & Biosciences reported fourth quarter net sales of $1.5 billion, down 2 percent from the year-ago period. The Zacks Consensus Estimate for 2019 earnings is currently pegged at $3.80, suggesting a year-over-year decline of 69.2%. ET on May 2, 2019, to discuss the Materials Science Division’s financial results within DowDuPont. “We continue to strategically reduce spending and are taking actions to consolidate our asset footprint. DuPont 4Q 2019 Earnings. DuPont (NYSE: DD) today announced financial results for the third quarter of 2019 and is reiterating its full-year guidance for organic revenue of slightly down versus prior year and narrows the range of pro forma adjusted EPS (1) to $3.77 to $3.82 versus the prior range of $3.75 to $3.85, maintaining the midpoint of the guide.